Reinsurance

Florida is a high-risk insurance state when it comes to hurricanes. In 1993, the Florida legislature created the Florida Hurricane Catastrophe Fund to serve as an additional source of reinsurance capacity for Florida insurers. Florida also has a state-run insurer, Citizens Property Insurance Corporation, which is the insurer of last resort for…

After a long run, home insurance price increases in Florida slowed to a near halt between August and September, raising the question: Now will prices go down? Statewide average costs for all-perils coverage of owner-occupied homes increased by $1 between August and September, from $3,747 to $3,748, according to the South Florida Sun Sentinel "s analysis of the…

The downgrade knocked State Farm, the country's largest property and casualty insurer by market share, from the very top of AM Best's rating scale to A+. For example, even a 0.10%– 0.25% increase in the cost of borrowing for a company the size of State Farm could cost it billions annually. Poor timing for State Farm leadership.

2025 NOV 25– By a News Reporter-Staff News Editor at Insurance Daily News– According to news reporting originating from Washington, D.C., by NewsRx journalists, a trademark application has been made for“ ACUITY, ACUITY EMPLOYEES, ACUITY AGENTS, ACUITY CUSTOMERS, ACUITY INSURANCE” by Mark J. Diliberti Foley& Lardner LLP, representing Acuity, A Mutual Insurance…

AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Saturn Insurance Inc.. Saturn is a captive insurer of BP p.l.c., an integrated global energy company. The ratings also consider rating enhancement from Saturn’ s affiliate, Jupiter Insurance Limited, which is the largest captive of the bp group and provides…

Capital Rx, Judi Health’ s transparent pharmacy benefit management line of business, is powering a new level-funded product, Capital Equilibrium. “The skyrocketing health insurance premiums we’ re seeing across the country are in no small part due to rising spend on the medicine people need,” said Justin Leader, President and Chief Executive Officer of…

AM Best has maintained its market segment outlook for the U.S. life/annuity insurance segment at stable, supported by a continuation of top-line growth, along with healthy capital and risk-adjusted capital levels. In its Best’ s Market Segment Report,“ Market Segment Outlook: US Life/Annuity,” AM Best states that the life/annuity segment has been able to grow…

Hub strengthens Allianz Commercial's Latin American business and supports sustainable and profitable growth in the Americas. Miami's connectivity and talent pool position the new office as an optimal base for regional insurance business. Focus will be on facultative reinsurance, supporting operations in Argentina, Brazil, Colombia and Mexico and…

Today, Congressman Jared Moskowitz reintroduced his Natural Disaster Risk Reinsurance Act, legislation designed to lower homeowners' insurance premiums, help families afford to stay in their homes, and stabilize Florida's collapsing insurance market. Florida currently faces the highest average homeowners insurance premiums in the country, driven…

Businesses are adopting Artificial Intelligence faster than ever, but their insurance has not kept pace. Counterpart, the leading Agentic Insurance™ platform, today announced the expansion of its Affirmative AI Coverage and the addition of a Technology E&O Insuring Agreement to address these emerging risks across its Miscellaneous Professional…

Are lower home insurance rates leading to cost reductions for Florida homeowners? After insurance leaders in Florida spent the last year touting the revival of a healthy insurance market, the South Florida Sun Sentinel decided to find out whether policyholders have been affected in the only way most of us care about: Can we insure our homes for a lower price?

KKR& Co. Inc. announced today that Scott C. Nuttall, Co-Chief Executive Officer, will present at the Goldman Sachs 2025 Financial Services Conference on Tuesday, December 9, 2025 at 8:40AM ET. KKR’ s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. For additional information about…

AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Tanzania Reinsurance Company Ltd.. The ratings consider TAN RE’ s exposure to the high levels of economic, political and financial system risks in Tanzania, where the company is domiciled, sources most of its business and invests the majority of its assets.

Largest Caribbean Insurers U.S. Workers’ Compensation– 2024 Direct Premiums Written U.S. Property/Casualty Asset Distribution U.S. Life/Health Asset Distribution U.S. Life/Health– Pre-Tax Investment Total Returns U.S. Homeowners Multiperil– Top Writers by State, Canada and U.S. Territories. U.S. Life/Health Insurers’ Investment Returns U.S. Homeowners…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a+” of China Reinsurance Corporation and its subsidiaries. The ratings also reflect the support China Re receives from its ultimate parent, China Investment Corporation, the sovereign wealth fund of the Chinese government. Under IFRS 17 and IFRS 9 accounting…

Majesco, the insurance industry’ s foremost innovator in cloud-native, AI-native software for the P& C and L& AH segments, today announced that it has entered into an agreement to acquire Vitech, a provider of cloud-native pension and benefits administration software. This acquisition will position Majesco as the premier market leader for cloud-native and…

AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb” of Global Protection Reinsurance Ltd.. The company is based in Barbados and fully owned by Global Protection Holding Corp., a subsidiary of Ficohsa Corp S.L., previously named Corporacion Ficohsa S.A.. GPR concentrates its efforts in reinsuring the group’ s…

The ratings also reflect the parental support CTBC Insurance receives from its intermediate parent, Taiwan Life Insurance Company Limited, as well as its ultimate parent, CTBC Financial Holding Co., Ltd, in terms of capital, business development and risk management. The outlook revision to positive from stable reflects AM Best’ s expectation that CTBC…

Both companies are domiciled in Brazil. Junto Re is classified as a local reinsurer in Brazil and mainly operates as a captive reinsurer for Junto Seg, an organization that has been writing surety directly for more than two decades. Junto Seg is the market-facing company of the group and the leading surety writer in Brazil.